Free Trial

Gains Hit A Wall At 21-DMA The....>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Gains Hit A Wall At 21-DMA
The spike higher in EURUSD met with stiff resistance at the 21-dma allowing
bears to regain control to keep the focus on the downside. The initial target
for bears is yesterday's low at 1.1142 with the May 3 low just below at 1.1135.
Below here opens the Apr 26 ytd low & May 30 2017 low at 1.1112/10. Further
support is located on approach to 1.11, ahead of the May 18 2017 low at 1.1076.
Bulls need to recover the 21-dma currently at 1.1185 and the 1.12 level before
targeting down trendline resistance off the Jan high & 55-dma at 1.1239.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.